14 May 2004 08:48
ZLATKIS LEAVING FINANCE MINISTRY
MOSCOW. May 14 (Interfax) - Deputy Finance Minister and chief of the ministry's Domestic Debt Department Bella
Zlatkis is leaving the Finance Ministry after more than 30 years of state service to try out something new, Zlatkis told
Interfax Thursday. Departure not connected with Finance Ministry reorganization
"I'm leaving the Finance Ministry, but this is in no way linked to
its reorganization. I decided to try working in a different place
because I have worked here for a very long time. I plan to work in
Bella Zlatkis, one of the founders of the Russian securities market at the start of the 1990s told Interfax that her
departure is in no way connected with the reorganization of the Finance Ministry.
Zlatkis thanked Kudrin for offering her a "very prestigious role"
in the reorganized ministry, but decided it was time to go. She will
another organization," said Zlatkis, who since the early nineties has been one of the founders and curators of
the GKO-OFZ market.
Zlatkis said Finance Minister Alexei Kudrin planned to sign an order on the ministry's new structure on
Thursday. The department headed by Zlatkis will merge with the Foreign Debt Department and will be headed by Deputy
Finance Minister Sergei Kolotukhin.
work at the ministry until the end of May.
"I will not be going far. I will be interested in seeing the [government ruble bonds market] working well and I
have promised Alexei Leonidovich [Kudrin], and I like to keep my word, that I will help if need be," she said.
A source close to the State Duma told Interfax that Zlatkis might move to one of Russia's major banks.
However, the deputy minister did not say where her next post would be.
"I cannot say yet, I have not been released by the prime minister, therefore I am not speaking about my new
workplace," she said.
Due to the reorganization of the Finance Ministry, the number of departments will be reduced from over 20 to 11 and
the number of deputy ministers - to two. Until now the finance minister has had 12 deputies, including five first
deputies.
A source in the Finance Ministry told Interfax that according to the new structure, the ministry will have the
following departments: budget policy - to be headed by Alexei Lavrov; inter-budget relations - Anton Siluanov; financial
policy - acting director Andrei Vorontsov; unified department for state debt - Sergei Kolotukhin; department for
military complex financing - Vera Chistova; tax and customs policy - Mikhail Motorin; administrative department - Sergei
Vyazalov; budget, audit and financial-currency control - acting director Sergei Mironchenko; industry department -
Vladimir Belov; and the federal treasury department - Tatiana Nesterenko. Zlatkis confident her departure will not
affect market
Deputy Finance Minister Bella Zlatkis, one of the founders of the Russian securities market at the start of the
1990s, is confident that her departure from the Russian Finance Ministry will not affect the market.
"The market will continue to develop as usual. I have postponed my departure from the Finance Ministry by more
than a six months so as to finish work to ensure that the market can develop without any great dependence on the person
responsible for it in the Finance Ministry," she told Interfax on Friday.
Zlatkis said that all preparatory work has been carried out. "We have totally rewritten all regulations, we are
ready to place state savings bonds, although a resolution on these has not yet been signed, we have submitted a draft
resolution to the government on investing money from the stabilization fund, almost everything has been resolved with
the restructuring of the Central Bank's portfolio of government securities and, moreover, we have already
calculated and submitted our part of the law on the budget for 2005," she said.
"Therefore there is no reason for the market to react to my departure," she said.
would continue to be responsible for this, but in a new position - as
acting director of the Finance Ministry's new financial policy
She said that in the restructured Finance Ministry the department for managing domestic state debt will be merged
with the foreign debt department and Sergei Kolotukhin, currently deputy finance minister responsible for foreign debt,
will head this new department.
Zlatkis also said that after her departure Alexander Chumachenko, currently deputy director of the domestic debt
department at the Finance Ministry, would continue to be responsible for domestic debt in the new department.
Former deputy finance minister Bella Zlatkis, one of the founders
and curators of the GKO-OFZ market, will take on the post of deputy
As regards the other block in the deputy minister's portfolio - regulating the investment of pension savings -
she said that Andrei Vorontsov, currently deputy director of the domestic debt department,
department.
Zlatkis said that a regulatory base for this block has already been set up and the Finance Ministry is currently
partially handing over functions in this area to the financial market regulator - the Federal Financial Markets Service.
Zlatkis to become deputy chief at Sberbank
chief of Russian savings bank Sberbank.
The pertinent instruction does not yet exist, but Sberbank is preparing for the arrival of Zlatkis, a bank official
told Interfax.
"It is too early to say what specific functions she will manage, but we are sure that such a highly qualified
specialist will be of great benefit to Sberbank," he said.
Zlatkis graduated from the Moscow Finance Institute in 1970 with a specialty in finance and credit and in the same
year she started to work in the finance ministry of the Russian Soviet Federal Socialist Republic, where she moved from
being an economist to director of the department for joint stock companies and financial markets. From 1991 to 1993 she
was director of the state securities and financial market department at the Russian Finance Ministry and in 1993-1998
she was director of the securities and financial market department. From 1998 to 2000 Zlatkis was director of the
domestic debt management department at the Finance Ministry and from 2000 onwards she has been deputy finance minister
and director of the Finance Ministry's domestic debt department.
[Interfax] |
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